South African retailer Woolworths Holdings Limited (WHL) will list their shares for trade on A2X Markets (A2X) from 2 December 2022.
WHL will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by its secondary listing on A2X. A2X is a licensed stock exchange that provides a secondary platform for companies to list their shares for trade.
This secondary listing benefits investors trading in WHL shares through reduced fees and transaction costs, with no added cost or regulation to WHL – effectively benefiting both parties.
Roy Bagattini, WHL Group CEO, says: “We are very pleased to be listing on A2X and to be able to offer investors greater access to trade our shares, and the opportunity to participate in the on-going growth and development of South Africa’s capital markets.”
A2X CEO Kevin Brady comments: “Woolworths is one of South Africa’s most iconic retail brands which is backed by a culture of sustainability and is renowned for doing good business. We are delighted to be welcoming them to our market.”
Woolworths is the 18th South African Top 40 constituent to list on A2X joining AngloGold Ashanti, Aspen, Exxaro, Discovery, Growthpoint, Implats, Investec ltd. Investec plc, Mr Price, Naspers, Nedbank, NEPI Rockcastle, Prosus, Remgro, Sanlam, Sasol and Standard Bank who are also listed on A2X.
The listing will bring the number of instruments listed on A2X to 91 with a combined market capitalisation of around R5,2-trillion.
A2X is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act.